A Different Road Towards Retirement
Flickr image "These old people were having a nice afternoon too" by Laura Mary
I was looking through my old posts a year back and realise I had written this post about setting goals and targets for fivecentstencents. The plans for 2009 were interesting. I managed to meet some of the goals, but other fell by the wayside as I continued on my journey towards financial freedom.
I’ve managed to write my second ebook Road Map to Financial Freedom that is for sale. To be honest, I’ve managed to sell about all of 3 copies and that includes one bought by my brother! 
Making Money from Selling ebooks is Not That Straightforward
So there goes the plan to be the next Napolean Hill or Robert Kiyosaki. However, I did learn a lot from the whole exercise of writing and publishing my own ebook. I learnt that it’s not that easy to be successful in publishing and selling your ebook but I had to try to understand why it worked (or not).
The other thing I learnt was from that experience is that my employment income will continue to be the main contributor of savings. Passive income will continue to come in drips and draps and is helpful but will not fund my retirement now if I needed it. Instead, what it has done is to expand my horizons to think about financial freedom in different forms.
A Different Concept of “Retirement”
Increasingly, I am starting to see financial freedom as rethinking this whole concept of “retirement” and it also involves lifestyle design. I attended a short conversational Thai language course and realised that by accessing another language, I will be opening up the potential to retire in another country.
CPF Life and your own retirement savings will only get you so far if you intend to stop pursuing the rat race of working for a living. Thus, one way to do what many of the foreigners working in Singapore have done is to make money in Singapore but spend their retirement years back in their (lower cost) home countries.
The availability of cheap air links between Singapore and ASEAN means that considering retiring (when the children are grown up and have their own lives/homes) in our neighbouring countries. Possibilities are Malaysia, Thailand mainly because their infrastructure is developed and learning Bahasa Malaysia or Thai are avenues to access these countries.
Exploring New Frontiers
I will be exploring how I can perhaps equip myself with sufficient Thai language skills and checking out possible locations to retire to when my daughter hits 25 years of age. That gives me 20+ years to prepare myself to transit into a different lifestyle from working a 8.30 am to 6.00 pm job and related living expenses in Singapore.
By the time I hit CPF withdrawal age, I won’t have too much money to draw on so my retirement savings would have to stretch long through being in a lower cost country where land is relatively more plentiful and the cost of living is not as punishing as Singapore Inc is.
In addition, I can consider monetising my home (i.e. renting it out or selling it) and staying in the lower cost country.
The more I put my mind towards thinking and writing about financial freedom, the more possibilities start opening up.
It is indeed true that one needs to be open to new ideas, perspectives and thoughts about issues to break through our conventional thinking and to arrive a out of the box solutions.
In 25 years’ time, Singaporeans may be a minority in our own country. Instead of waiting around for the inevitable to hit, I might as well transplant myself to another country that is more amenable and is less of a city. I will take Singapore Inc as what it is, a place to make money and saving this for my eventual relocation out during the time when I’m in my 60s or 70s.
Have you thought about your possibilities in financial freedom?
Be well and prosper.
Hi Panzer
Sometimes, its depressing to see the luxury cars cruising on the streets while you are taking public transport. You cant help wonder if you belong to the class of ‘lesser’ mortals who toil just to support a simple lifestyle. Yes, living the retirement years in a cheaper country is an option but you would have to make substantial changes to your existing lifestyle which could be compromising and difficult.
Dear Rex
It’s about feeling comfortable with what you have and not being sucked into the game called, “mine is bigger than yours” syndrome.
I used to feel EXACTLY what you said. The tinge of envy and jealousy as seeing people who can drive big luxury cars while I was taking public transport for the first 10+ years of my working career.
But after I embarked on my journey towards financial freedom, I realised that the game of keeping up with our neighbours will never end, and happiness lies in how we find joys in the simple things in life after we’ve achieved our basic needs, i.e. shelter (home), food, security and relationships.
The iPhones and BMWs are nice to haves but not essential to happiness. Living within your means and being happy with the situation is more important.
As I get older, I realise good health is more important than winning TOTO group 1 prize because with health you can do many things but without it, even with money, one can do nothing much.
I believe in thinking outside of the box and to make changes. Being open to the possibility of living my retirement years in a lower cost country is one option. But I intend to develop many options e.g. redefining the term “retirement”. So long as my health is good, I intend to work until my last breathe because I choose to and not because I have to.
Be well and prosper.
Hi Panzar,
Just to share my thoughts. So long “Sg” is not “Sodom and Gomorroh”, I am fine here in Singapore.
We must not be so caught up with this earthly abode, because it is temporal. The cost of living in Singapore is escalating; you pay more to get less; and at times, there is not much to save and put aside for rainny days. So, the more we must be careful with our spendings.
I don’t feel I have little because I don’t need much. Good health is all I want so that I won’t be a burden to my loved ones.
Hi Everlearning
I agree. Happiness is largely about wanting what you have. A lot of unhappiness in my own life was because I was envious of the material stuff that other people had.
I now realise that material stuff only makes you happy for a short while. After that it doesn’t really do anything for you.
Be well and prosper.
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